The Ministry of construction of Russia proposes to create a program for certain categories of citizens similar to the “military mortgage”.
KAZAN, 25 Jan. Irina Durnitsyna. The Ministry of construction of Russia proposes for further development of mortgage construction to reduce the downpayment to 10%, to create the analogues of the “military mortgage”, to reduce the redundancy ratios on mortgage loans to 20% of the loan amount and to take a range of other operational measures reported by the first Deputy Minister of construction and housing and communal services of the Russian Federation Leonid Stavitskiy.
“We propose to create a program for certain categories of citizens similar to the “military mortgage”, as a result of which banks can obtain funds from the Central Bank at a concessional rate, to recommend to reduce to 10% the size of the down payment on mortgage loans”, — said Stavitskiy on the Board of the Ministry of construction of Tatarstan.
According to him, these issues along with the most urgent question of the extension of the program of subsidizing mortgage rates are now very actively discussed in the Russian government.
The Ministry of construction, added stavytsky, also proposes to reduce reserve regulations on mortgages from 35% to 20% of the loan amount that, according to calculations Agency for housing mortgage lending (AHML), “will free up about 1 trillion rubles for the issuance of mortgage loans.”
Support measures, according to the Deputy head of the Ministry of the Russian Federation, can become the admission of AHML on organized trading; ensure the implementation of unified development Institute in the housing sector securitization of mortgage-backed securities. Also, in his opinion, it is necessary to provide increased funds in the mortgage market due to the foreclosure of mortgages by the Central Bank, which in the case of default by a borrower will be overbought unified development Institute in the housing sector. In addition, it is important to include the construction of a list of activities that are subject to reinsurance.
“It’s such an operational set of measures and suggestions that have worked for the Ministry and (they) operate at the level of government very actively”, — said Stavitskiy.